Item 5 - Fees and Compensation
Syon charges fees based on a percentage of assets under management. The specific fees charged by Syon
for services provided will be set forth in each client’s Agreement.
A. Investment Management Services Fees
Syon charges an annual advisory fee up to 1.50% of client assets under management. The annual advisory
fee payable by a client is set forth in the agreement executed by Syon and the client. The advisory fee is
paid monthly. The advisory fee for the initial month shall be paid, on a pro rata basis, in arrears, based on
the balance of the net billable assets in the client’s account on the last day of that month. For subsequent
months, the advisory fee shall be paid, in advance, based on the average daily balance of the client’s
accounts for the preceding month, as provided by third-party sources, such as pricing services, custodians,
fund administrators, and client-provided sources.
Notwithstanding the foregoing, Syon and the client may choose to negotiate an annual advisory fee that
varies from the range set forth above. Factors upon which a different annual advisory fee may be based
include, but are not limited to, the size and nature of the relationship, the services rendered, the nature and
complexity of the products and investments involved, time commitments, and travel requirements. The
advisory fee charged by the Firm will apply to all of the client’s assets under management, unless
specifically excluded in the client agreement. The advisory fee includes, if and to the extent provided by
Syon, any financial planning services. Although Syon believes that its fees are competitive, clients should
understand that lower fees for comparable services may be available from other sources and firms.
The investment advisory agreement between Syon and the client may be terminated at will by either Syon
or the client upon written notice. Syon does not impose termination fees when the client terminates the
investment advisory relationship, except when agreed upon in advance. However, the client will be
responsible for any termination or transfer fees accessed by the custodian for closing or transferring an
account.
Syon Capital LLC Disclosure Brochure
B. Payment of Fees
Syon generally deducts its advisory fee from a client’s investment account(s) held at his/her custodian.
Upon engaging Syon to manage such account(s), a client grants Syon this limited authority through a written
instruction to the custodian of his/her account(s). The client is responsible for verifying the accuracy of the
calculation of the advisory fee; the custodian will not determine whether the fee is accurate or properly
calculated. See Section A herewith for further information on fee billing. A client may utilize the same
procedure for financial planning or consulting fees if the client has investment accounts held at a custodian.
Although clients generally are required to have their investment advisory fees deducted from their accounts,
in some cases, Syon will directly bill a client for investment advisory fees if it determines that such billing
arrangement is appropriate given the circumstances.
Syon’s private funds are billed either in advance or arrears depending on the fund. The details of the billing
are provided to investors in the offering documents. Syon encourages investors to read these documents
carefully to fully understand the fund and the method of billing.
The custodian of the client’s accounts provides each client with a statement, at least quarterly, indicating
separate line items for all amounts disbursed from the client's account(s), including any fees paid directly
to Syon.
Clients may make additions to and withdrawals from their account at any time, subject to Syon’s right to
terminate an account. Additions may be in cash or securities provided that the Firm reserves the right to
liquidate transferred securities or decline to accept particular securities into a client’s account. Clients may
withdraw account assets at any time on notice to Syon, subject to the usual and customary securities
settlement procedures. However, the Firm generally designs its portfolios as long-term investments and the
withdrawal of assets may impair the achievement of a client’s investment objectives. Syon may consult
with its clients about the options and implications of transferring securities. Clients are advised that when
transferred securities are liquidated, they may be subject to transaction fees, short-term redemption fees,
fees assessed at the mutual fund level (e.g. contingent deferred sales charges) and/or tax ramifications.
In connection with Syon’s management of an account, a client will incur fees and/or expenses separate from
and in addition to Syon’s advisory fee. These additional fees may include transaction charges and the
fees/expenses charged by any custodian, subadvisor, mutual fund, ETF, separate account manager (and the
manager’s platform manager, if any), limited partnership, or other advisor, transfer taxes, odd lot
differentials, exchange fees, interest charges, ADR processing fees, and any charges, taxes or other fees
mandated by any federal, state or other applicable law, retirement plan account fees (where applicable),
margin interest, brokerage commissions, mark-ups or mark-downs and other transaction-related costs,
electronic fund and wire fees, and any other fees that reasonably may be borne by a brokerage account. For
External Managers, clients should review each manager’s Form ADV 2A disclosure brochure and any
contract they sign with the External Manager (in a dual contract relationship). The client is responsible for
all such fees and expenses. Please see Item 12 of this brochure regarding brokerage practices.
C. Prepayment of Fees
As noted in Item 5(B) above, Syon’s advisory fees generally are paid in advance. Upon the termination of
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